QRG Capital Management Inc. Buys 31,494 Shares of Warner Bros. Discovery, Inc. $WBD

QRG Capital Management Inc. boosted its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 12.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 279,816 shares of the company’s stock after purchasing an additional 31,494 shares during the quarter. QRG Capital Management Inc.’s holdings in Warner Bros. Discovery were worth $7,684,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Swiss RE Ltd. acquired a new stake in Warner Bros. Discovery during the fourth quarter worth about $26,000. Fideuram Asset Management Ireland dac bought a new stake in shares of Warner Bros. Discovery during the 4th quarter worth approximately $29,000. MV Capital Management Inc. bought a new stake in shares of Warner Bros. Discovery during the 4th quarter worth approximately $30,000. Rakuten Securities Inc. boosted its position in shares of Warner Bros. Discovery by 81.5% during the 4th quarter. Rakuten Securities Inc. now owns 1,160 shares of the company’s stock worth $33,000 after acquiring an additional 521 shares in the last quarter. Finally, JPL Wealth Management LLC acquired a new stake in shares of Warner Bros. Discovery during the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 59.95% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. UBS Group boosted their price objective on shares of Warner Bros. Discovery from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Guggenheim reaffirmed a “neutral” rating on shares of Warner Bros. Discovery in a report on Thursday, May 7th. Moffett Nathanson upgraded Warner Bros. Discovery from a “hold” rating to a “strong-buy” rating in a research note on Sunday, March 8th. Seaport Research Partners upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Monday, June 29th. Finally, Wells Fargo & Company started coverage on Warner Bros. Discovery in a report on Monday, March 9th. They set an “equal weight” rating and a $31.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $27.04.

Warner Bros. Discovery Stock Performance

Shares of Warner Bros. Discovery stock opened at $26.48 on Friday. The firm’s 50 day moving average is $26.91 and its 200 day moving average is $27.63. The firm has a market capitalization of $66.39 billion, a PE ratio of -37.83 and a beta of 1.54. Warner Bros. Discovery, Inc. has a 1 year low of $10.76 and a 1 year high of $30.00. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($1.17) EPS for the quarter, missing the consensus estimate of ($0.10) by ($1.07). Warner Bros. Discovery had a negative net margin of 4.67% and a negative return on equity of 4.77%. The company had revenue of $8.89 billion during the quarter, compared to the consensus estimate of $8.89 billion. During the same period in the previous year, the company earned ($0.18) EPS. Warner Bros. Discovery’s revenue for the quarter was down 1.0% on a year-over-year basis. Equities research analysts forecast that Warner Bros. Discovery, Inc. will post -1.07 earnings per share for the current fiscal year.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery (NASDAQ: WBD) is a global media and entertainment company formed when WarnerMedia and Discovery, Inc combined their businesses in 2022. Headquartered in New York City, the company assembles a broad portfolio of film and television production, linear and cable networks, streaming services and consumer distribution operations. Its assets span well-known studio brands, premium scripted and unscripted programming, news and factual entertainment, and licensed franchise properties.

The company’s core activities include film and television production and distribution through units such as Warner Bros.